Millea Holdings, Inc. (the "Company") announced that, at the meeting of the board of directors held on May 23, 2007, it has resolved to propose the appointment of an independent auditor for approval at the 5th Ordinary General Meeting of Shareholders, to be held on June 25, 2007, as set forth below.

The submission of this proposal has been approved by the board of corporate auditors of the Company.

1. Reasons for the appointment

On May 10, 2006, the Financial Services Agency imposed on ChuoAoyama PricewaterhouseCoopers ("ChuoAoyama") (currently, MISUZU Audit Corporation), the Company’s former independent auditor, a two-month suspension of auditing services from July 1, 2006 to August 31, 2006. As a result, ChuoAoyama lost its capacity to serve as the Company’s independent auditor under Japanese law as of July 1, 2006. In response to these developments, the board of corporate auditors made the determination to appoint a temporary independent auditor to avoid a prolonged absence of the Company's independent auditor. Accordingly, on July 4, 2006, the board of corporate auditors appointed PricewaterhouseCoopers Aarata ("Aarata") as the Company's temporary independent auditor under Japanese law. Aarata assumed the position as of July 5, 2006.

The Company considers that Aarata would be appropriate as the Company's independent auditor, taking into account their audit quality, governance framework and degree of independence, as well as their standard of performance in providing audit services as a temporary independent auditor. Accordingly, the Company proposes for approval at the General Meeting of Shareholders to appoint Aarata as the Company's independent auditor.


2. Candidate for the independent auditor

Name: PricewaterhouseCoopers Aarata
Location: Sumitomo Fudosan Mita Twin Building, East Tower, 2-8, Shibaura 4-chome, Minato-ku, Tokyo


3. Date of the appointment

June 25, 2007 (the scheduled date for the Company's 5th Ordinary General Meeting of Shareholders)